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Net Leased Grocery Trades to Overseas Buyer
The Boulder Group has completed the sale of a property net leased to Jewel Osco in Bourbonnais, IL. The 62,000-square-foot building at 655 Main St NW traded for $12.3 million.
The firm’s Randy Blankstein and Jimmy Goodman represented the seller and the buyer in the transaction. The seller was a private real estate investment company based in the Southwest. The buyer is a high net-worth investor from Australia.
The lease is guaranteed by Albertsons and has 20 years remaining. Albertsons, which operates under 20 different banners across 35 states, has a strong operating history and sales at the location.
“The market for standalone grocery properties remains active due to their built-in customer base,” said Blankstein, Boulder Group’s president. Goodman added, “Investors pay a premium for 20-year net leased assets which are in limited supply.”
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- ◦Sale/Acquisition
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